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Posted by: Kim Stenberg
When it comes down to getting approved for a mortgage, there are a lot of factors and not everyone will qualify. So what are your options if the banks say “no”? When conventional lenders (such as banks or credit unions) deny mortgage financing, it can be easy to feel discouraged. However, it is important to […]
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Prices are Rising Everywhere – Transitory Can Last a Long Time Today’s release of the September Consumer Price Index (CPI) for Canada showed year-over-year (y/y) inflation rising from 4.1% in August to 4.4%, its highest level since February 2003. Excluding gasoline, the CPI rose 3.5% y/y last month. The monthly CPI rose 0.2% in September, at the […]
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Today the Canadian Real Estate Association (CREA) released statistics showing national existing-home sales rose 0.9% between August and September 2021, posting the first monthly gain since March (see chart below). On a year-over-year (y-o-y) basis, the number of transactions last month was down 17.5%. Nevertheless, it was still the second-highest sales figure ever for the month of […]
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Many Canadians will spend their entire lives without proper financial education. With the help of Enriched Academy, an online financial education platform, Our House Magazine has collected some insight and tips from experts on financial literacy to help Canadians achieve their dreams, from homeownership to a comfy retirement. Money. It’s virtually impossible to get by […]
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BLOCKBUSTER SEPTEMBER JOBS REPORT — FURTHER FUEL FOR RISING INTEREST RATES Statistics Canada released the September Labour Force Survey this morning, providing some unmitigated good news on the jobs front. Employment rose by 157,000 (+0.8%) in September, the fourth consecutive monthly increase. The unemployment rate fell by 0.2 percentage points to 6.9%. Employment gains in September were concentrated in full-time work and among […]
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Moving to a larger house is not the only time that things can change with your home and mortgage. Sometimes there comes a point when owning a home becomes a little too much to handle; or maybe you’re an empty-nester and no longer need three extra bedrooms. Whatever the reason, downsizing is a great option […]
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It’s a common question and one that deserves a little context. Buying a home is an incredibly exciting event for any new homeowner, but with ownership of any property comes the need to protect it from a range of risks. These could include losses or damages to the home and fraudulent attempts to steal, transfer […]
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10 Mortgage Mistakes. Whether it is your first house or you’re moving to a new neighborhood, getting approved for a mortgage is exciting! However, even if you have been approved and are simply waiting to close, there are still some things to keep in mind to ensure your efforts are successful. Many homeowners believe that […]
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Home Prices Still Rising as Falling Sales Reflect Insufficient Supply Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell a slight 0.5% nationally from July to August 2021–the fifth consecutive monthly decline. Over the same period, the number of newly listed properties edged up 0.8%, and the MLS Home Price Index rose […]
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Annual Inflation in August Rises to 4.1% in Canada — But Area We Close to the Peak? Today’s release of the August Consumer Price Index (CPI) for Canada posted another uptick in the year-over-year (y/y) inflation rate, but hidden in the details was some support for the Bank of Canada’s position that the spike […]
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